Isis to collaborate with Ortho-McNeil

MichelleDonley

NEW YORK (MarketWatch) -- Isis Pharmaceuticals Inc.
ISIS
said Thursday that it is collaborating with Johnson & Johnson's
JNJ, +1.19%
Ortho-McNeil Inc. to research and develop treatments for metabolic diseases, including Type 2 diabetes. Carlsbad, Calif.-based Isis will give Ortho-McNeil rights to two diabetes development candidates, while Ortho-McNeil will help fund a joint effort to find new treatments for diabetes and obesity. According to terms of the collaboration, Isis will receive a $45 million upfront licensing fee from Ortho-McNeil and could get more than $230 million in milestone payments and royalties on sales.

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